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Sharp to Get 30 Billion Yen in Loans From Three Banks

Sharp Corp., the Japanese electronics maker struggling to recover from a record loss, will get 30 billion yen ($313 million) in loans from three banks this week, three people familiar with the matter said.

Resona Bank Ltd., Mizuho Trust & Banking Co. and Mitsubishi UFJ Trust & Banking Corp. will each lend 10 billion yen, the people said, asking not to be named as the agreement is private. The banks will join a 360 billion-yen syndicated loan set up by Sharp’s main lenders Mizuho Corporate Bank Ltd. and Bank of Tokyo-Mitsubishi UFJ Ltd., which matures at the end of June, with the total amount remaining unchanged, the people said.